The stock fell in early trading after an exchange filing stated that an enquiry was initiated by officials of the Enforcement Directorate (ED) at the company’s premises on Thursday.
The matter in question pertained to Reliance Commercial Finance Ltd. and Reliance Home Finance Ltd., both of which were acquired by Authum in October 2022.
“Authum has already submitted all relevant documentation to the authorities and will continue to respond to any additional queries in a transparent and timely manner,” the company said in the exchange filing, adding that the developments will have no bearing on the company’s ongoing operations or financial performance.
In a block deal on Friday, as many as 3% of the company’s outstanding equity changed hands during large trades.
Sources told CNBC-TV18 that three large foreign institutional investors (FIIs) and one domestic mutual funds were buyers in the transaction.
At the end of the June quarter, Mutual Funds had only 0.1% stake in the company, while Calypso Global Investment Fund and Nexpact Ltd. had 1.52% and 4.71% stake in the company respectively.
Promoters of Authum had a 74.5% stake in the company at the end of the June quarter.
Shares of Authum Investment and Infra are trading 10.6% lower at ₹2,510.8.
